Do-Over for Taunton's International Equity Search
June 9, 2008
It's the second time around for the Taunton Retirement System as the plan has reissued an RFP for an international core equity mandate with emerging markets exposure, confirmed Paul Slivinski, executive director with the $190 million plan.
The plan first launched the $13 million search in March (See IMW, 3/17/08).
Slivinski explained that there was an issue with the minimum criteria, which caused the board to start from scratch and reissue the RFP.
He explained that the search is being conducted to gain some emerging markets exposure--which Taunton does not currently have--in addition to finding a possible replacement for a manager at the plan who is on watch list status. He declined to identify the firm, however.
Meanwhile, the Massachusetts Public Employee Retirement Administration Commission's (PERAC) Web site lists The Boston Company and EuroPacific Capital as international equity managers for the fund.
Carol Tam of Segal Advisors is assisting with the search. The RFP is available at http://www.segaladvisors.com/rfp Proposals are due June 23.
Slivinski said that finalist interviews could take place next month, depending on how the early stages of the search progress.
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